Restoration of QNS&L Railway activities

MONTREAL and SEPT-ÎLES, QC and LABRADOR CITY and ST. JOHN'S, NL, Dec. 25 /CNW Telbec/ - The Iron Ore Company of Canada (IOC) is pleased to announce that damage caused by last week's heavy rains to the QNS&L railway line between Sept-Îles and Labrador City has now been repaired. The railway service and associated activities will be gradually restored.

IOC's operations in Labrador City will revert to normal production levels as soon as possible. Ship loading activities in Sept-Îles are continuing with available finished product.

About IOC

IOC is the largest manufacturer of iron ore pellets in Canada and its customer base covers North American, European and Asian steel producers. The Company operates a mine, concentrator and pelletizing plant in Labrador City, Newfoundland and Labrador, as well as port facilities located in Sept-Îles, Quebec. It also operates a 418-kilometre railroad that links the mine to the port. IOC has approximately 2,200 employees. Its shareholders are Mitsubishi Corporation (26.18%), Labrador Iron Ore Royalty Corporation (15.10%) and the international mining group Rio Tinto, majority shareholder (58.72%) and operator, which has activities in more than 40 countries throughout the world.

For further information:

Arlène Beaudin,
Advisor, External Relations
Telephone: [phone] ext. 7792